November 22, 2024

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[THE INVESTOR] Hyundai Motor on Feb. 27 vowed to sell 30,000 eco-friendly cars this year, as it unveiled the Ioniq plug-in hybrid electric vehicle to the public.

“With today’s launch of Ioniq plug-in, Hyundai finally has a full lineup of eco-friendly cars,” said Lee Kwang-guk, executive vice president of Hyundai Motor, at the Ioniq press event in Goyang, Gyeonggi Province. “This year we plan to sell 30,000 units of eco-friendly vehicles, including the Ioniq brand.”

Last year, Hyundai sold a total of 11,148 Ioniq cars, which include 7,399 hybrids and 3,749 full electric vehicles.

The latest Ioniq PHEV is the third and the last vehicle under the Ioniq brand, which was introduced first in Korea last year.

The Ioniq PHEV, which uses both gasoline and electricity as energy sources, boasts an average fuel economy of 20.5 kilometer per liter, the highest among PHEV cars currently available in Korea. The car offers a driving range of 900 kilometers in hybrid mode and an electric range of up to 46 kilometers in all-electric mode.

The Ioniq PHEV is priced between 32.3 million won (US$28,538) and 34.1 million won depending on the trim level. With the government subsidy of 5 million won, the final price tag is cut to 27.3 million won and 29.1 million won.

At the event, Lee reaffirmed Hyundai’s goal to expand its green car lineup to more than 14 models by 2020.

“We will extend the lineup to five hybrid models, four plug-in hybrids, four electric cars and one fuel cell electric vehicle,” Lee said, adding the automaker is planning on rolling out the new fuel cell vehicle in 2018, just in time for the PyeongChang Winter Olympics.

By Ahn Sung-mi (sahn@heraldcorp.com)